UBS on how to invest in EVs, rising electric vehicle adoption

UBS on how to invest in EVs, rising electric vehicle adoption

Demand for electric vehicles is expected to boom in the coming decades — and UBS has identified a theme for investors to cash in on that electrification. UBS said that increasing amounts of electronic content within vehicles will lead to new supply chains, as automakers increasingly work directly with semiconductor firms and new tech players. … Read more

Tesla converted 75% of bitcoin purchases to fiat currency in Q2 2022

Tesla converted 75% of bitcoin purchases to fiat currency in Q2 2022

Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future. Arthur Widak | NurPhoto | Getty Images Early last year, Tesla invested $1.5 billion in bitcoin, banking on what the electric car maker called the digital … Read more

Tesla stock rises after EV maker reports better-than-expected Q2 profit, jump in sales

Tesla stock rises after EV maker reports better-than-expected Q2 profit, jump in sales

Tesla Inc. late Wednesday reported second-quarter earnings above Wall Street projections, defying expectations that COVID-related shutdowns in China would hurt its bottom line, thanks to vehicle price increases and selling of most of its Bitcoin. The quarter was challenging, but “we have the potential for record-breaking second half of the year,” barring force majeure and … Read more

Tesla TSLA earnings Q2 2022

Tesla TSLA earnings Q2 2022

Tesla reported earnings after the bell, and the results sent the stock up about 2% after hours. Earnings per share (EPS): $2.27 (adjusted) vs $1.81 expected, according to Refinitiv Returned: $16.93 billion, vs. $17.1 billion expected, according to Refinitiv Automotive gross margin came in at 27.9%, down from 32.9% last quarter and 28.4% a year … Read more

5 things to know before the stock market opens Wednesday, July 20

5 things to know before the stock market opens Wednesday, July 20

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, July 19, 2022. Brendan Mcdermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Inventory slip up Equities futures fell Wednesday morning after a strong close Tuesday for the … Read more